FirstService Corporation (FSV) Stock Rating Upgraded by BidaskClub
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Other equities analysts have also recently issued reports about the company. TheStreet raised FirstService Corporation from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Zacks Investment Research cut FirstService Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Raymond James Financial, Inc. lifted their price objective on FirstService Corporation from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada lifted their price objective on FirstService Corporation from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $67.00.
FirstService Corporation (NASDAQ FSV) opened at 66.60 on Friday. FirstService Corporation has a one year low of $39.05 and a one year high of $67.41. The stock’s 50 day moving average is $64.21 and its 200 day moving average is $61.18. The firm has a market cap of $2.39 billion, a P/E ratio of 53.28 and a beta of 0.91.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million during the quarter, compared to analysts’ expectations of $421.35 million. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, equities research analysts expect that FirstService Corporation will post $1.96 earnings per share for the current year.
FirstService Corporation declared that its board has approved a share repurchase program on Thursday, August 17th that allows the company to buyback 3,100,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in FirstService Corporation by 17.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock worth $141,000 after buying an additional 324 shares during the period. Legal & General Group Plc boosted its position in FirstService Corporation by 37.7% in the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock worth $198,000 after buying an additional 900 shares during the period. UBS Group AG boosted its position in FirstService Corporation by 21.2% in the first quarter. UBS Group AG now owns 3,427 shares of the financial services provider’s stock worth $206,000 after buying an additional 600 shares during the period. Wetherby Asset Management Inc. acquired a new position in FirstService Corporation during the second quarter worth approximately $209,000. Finally, Orgel Wealth Management LLC acquired a new position in FirstService Corporation during the second quarter worth approximately $211,000. 58.96% of the stock is owned by institutional investors.
About FirstService Corporation
Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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